Ambarella, Inc. (NASDAQ:AMBA) Sees Significant Drop in Short Interest

Ambarella, Inc. (NASDAQ:AMBA) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 2,660,000 shares, a drop of 10.7% from the February 29th total of 2,980,000 shares. Based on an average daily volume of 543,600 shares, the short-interest ratio is presently 4.9 days.

Insiders Place Their Bets

In related news, CEO Feng-Ming Wang sold 2,173 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $49.27, for a total transaction of $107,063.71. Following the sale, the chief executive officer now directly owns 806,632 shares in the company, valued at $39,742,758.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO John Alexander Young sold 1,546 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $49.27, for a total transaction of $76,171.42. Following the transaction, the chief financial officer now directly owns 107,571 shares in the company, valued at approximately $5,300,023.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Feng-Ming Wang sold 2,173 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $49.27, for a total transaction of $107,063.71. Following the completion of the transaction, the chief executive officer now owns 806,632 shares in the company, valued at approximately $39,742,758.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,648 shares of company stock worth $327,595. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Ambarella

Institutional investors have recently added to or reduced their stakes in the business. LM Advisors LLC acquired a new position in Ambarella in the fourth quarter valued at approximately $25,000. Creative Planning purchased a new stake in shares of Ambarella in the third quarter valued at approximately $27,000. FNY Investment Advisers LLC purchased a new stake in shares of Ambarella in the third quarter valued at approximately $51,000. Stephens Inc. AR raised its stake in Ambarella by 73.0% in the 1st quarter. Stephens Inc. AR now owns 1,095 shares of the semiconductor company’s stock valued at $85,000 after purchasing an additional 462 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Ambarella in the third quarter valued at about $66,000. Institutional investors and hedge funds own 82.09% of the company’s stock.

Ambarella Stock Performance

Shares of Ambarella stock traded down $0.50 during trading on Friday, hitting $50.77. 398,622 shares of the stock traded hands, compared to its average volume of 547,553. Ambarella has a 52-week low of $43.59 and a 52-week high of $89.18. The stock’s fifty day simple moving average is $53.95 and its 200 day simple moving average is $54.63.

Ambarella (NASDAQ:AMBA) last posted its earnings results on Tuesday, February 27th. The semiconductor company reported ($0.95) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.98) by $0.03. Ambarella had a negative return on equity of 23.38% and a negative net margin of 74.81%. The company had revenue of $51.62 million for the quarter, compared to analyst estimates of $51.68 million. On average, equities research analysts expect that Ambarella will post -3.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Ambarella to a “sell” rating in a research report on Friday, February 2nd. Rosenblatt Securities reissued a “buy” rating and set a $85.00 target price on shares of Ambarella in a research note on Wednesday, December 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Ambarella in a research note on Wednesday, February 28th. Wells Fargo & Company lowered shares of Ambarella from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $85.00 to $65.00 in a research note on Wednesday, January 3rd. Finally, Morgan Stanley raised their price target on shares of Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $73.54.

About Ambarella

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.